Housing Starts Rose In July

Housing starts in the U.S. rose 1.7% in July to a seasonally adjusted annual rate of 546,000 units, the Commerce Department reported Tuesday.

Starts of new single-family homes declined by 4.2% to 432,000, while starts of large apartment units rose 32.6 percent to 114,000.

New building permits fell 3.1 percent to an annual rate of 565,000 units, the lowest level since May 2009.

From: Reuters News, Lucia Mutikani 08-17-2010

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